Real estate in Mission Beach hasn’t suffered as much as many other areas in southern California and the rest of the United States. This is good news for home owners and bad news prospective home buyers looking to get a piece of the sweet life by spending just a fraction of the actual price tag. While the Mission Beach market has suffered a decline in demand, market prices haven’t fallen as much as many predicted and remain steadily above the price range for most people looking to invest in a property. The exclusivity and premium nature of Mission Beach’s homes often make them the last house to be sold by owners who often only seasonally live in the San Diego area.
Accordingly, real estate news isn’t all bad or even that bad at all for San Diego and its many communities that comprise one of southern California’s most popular cities. Mission Beach and the rest of San Diego are one of the southwestern United States’ premier places to live thanks to the sunny weather, beautiful beaches, and spectacular recreational opportunities. On September 25, 2009, Max Jarman wrote in the Arizona Republic newspaper that bargains have begun to surface in the area, much to the liking of prospective home buyers looking to scoop up a prestigious piece of real estate in San Diego at a fraction of its realistic price. However, Jarman also reported that “oceanfront real estate from Imperial Beach to La Jolla has not taken the 50 percent plunge that hit some downtown condos and subdivision tract homes. But beachfront property has come down as much 30 percent in some areas from 2006 highs, with much greater savings possible on foreclosure properties or short sales.”
The extensive article also claimed that despite high costs, many pieces of Mission Beach real estate, like a $1.2-million single-family home, are still attracting high volumes of interest parties although most are much more hesitant in signing for the house. The article introduces Brian Lewis, a real estate agent who specializes in Mission Beach homes for sale. According to Lewis, the best time to find bargains on the highly-competitive and seldom-discounted Mission Beach market is “after Labor Day, when vacation rentals are often vacant and not producing income.” Apparently, most owners “don’t think about selling when the their properties are rented or being used” but often put the homes on the market when bookings are low.
